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package of spending cuts and tax cuts but to the republicans suggested instead cutting the federal work force. today outgoing defense secretary leon panetta warned failure to get a deal will have real consequences for u.s. military readiness. >> this is not a game. this is reality. >> if the automatic cuts go into effect he says expect action from the pentagon including furloughing as many as 800,000 civilian workers for up to 22 days. cutting back on army training and maintenance, shrinking naval operations and reducing air force flying hours and weapons and its. today a group of house republicans proposed cutting the federal work force by 10%. >> our defense should not be used as a bargaining chip because of other policy aspirations of people want to accomplish. >> house speaker john boehner called sequestration a bad idea. he says it was forced upon republicans by president obama. >> it is taking a meat ax to our government and many programs in national defense. >> experts warn the impact would be especially felt in the washington area. >> i am very concerned about it. >> this car sa
package of spending cuts and tax cuts but to the republicans suggested instead cutting the federal work force. today outgoing defense secretary leon panetta warned failure to get a deal will have real consequences for u.s. military readiness. >> this is not a game. this is reality. >> if the automatic cuts go into effect he says expect action from the pentagon including furloughing as many as 800,000 civilian workers for up to 22 days. cutting back on army training and maintenance,...
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Feb 7, 2013
02/13
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can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle,
can cut out programs that we don't need, but it also means that we've got to be able to close some tax loopholes and deductions that the average american cannot take advantage of, to raise the revenue, to actually do the job in a way that allows us to continue to grow. now, the reason this is relevant is because i gather and i haven't gotten this from first-hand sources, but from second hand sources in the press that our friends on the other side of the aisle,
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republicans reject this right away because they see tax reforms as a tax increase. here's what kelly ayacht said this morning. >> his first response to everything is new taxes. he got $600 billion in new revenue, where were the spending cuts? now again he wants to raise taxes. i think it's time for us to cut spending. >> and those comments followed pat toomey, who said sorry, president obama, no more tax increases. mitch mcconnell said the government will not support more tax hikes in place of the meaningful spending reductions. so what's behind the president talking about this yesterday? >> it's no surprise. of course they're going to say it's d.o.a. they always say it's d.o.a. >> but is it d.o.a.? >> i'm not sure it is. i do think there is renewed pressure on republicans to get renewed spending cuts in this round. you see indications that house republicans especially are saying that they will swallow that sequester if that's what it takes to get actual spending cuts out of this president. >> the president didn't get specific, which is one of the criticisms yesterd
republicans reject this right away because they see tax reforms as a tax increase. here's what kelly ayacht said this morning. >> his first response to everything is new taxes. he got $600 billion in new revenue, where were the spending cuts? now again he wants to raise taxes. i think it's time for us to cut spending. >> and those comments followed pat toomey, who said sorry, president obama, no more tax increases. mitch mcconnell said the government will not support more tax hikes...
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well, the highlights cantor advocated were, let's see, mitt romney's tax reform plan. mitt romney's education reform plan, and unworkable cuts as usual to medicare and medicaid. not surprisingly, cantor was not willing to get specific about any legislation to make these ideas a reality. >> we do intend to follow up with some policy proposals in legislation working with our committees to move forward on many, many of these issues. >> it's always the follow-up, isn't it? but there was one thing cantor said today that really caught my attention. here it is. >> our solutions will be based on the conservative principles of self-reliance, faith in the individual, trust in family, and accountability in government. >> there is a lot there, isn't there? cantor sounds like he is fresh off another frank luntz seminar. i couldn't believe my ears when i heard those words come out of cantor's mouth. so let me make sure i got this whole thing correct. "our solutions will be based on the conservative principles of self-reliance, faith in the individual, trust in the family, and accoun
well, the highlights cantor advocated were, let's see, mitt romney's tax reform plan. mitt romney's education reform plan, and unworkable cuts as usual to medicare and medicaid. not surprisingly, cantor was not willing to get specific about any legislation to make these ideas a reality. >> we do intend to follow up with some policy proposals in legislation working with our committees to move forward on many, many of these issues. >> it's always the follow-up, isn't it? but there was...
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it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working on michellely over the next few weeks is going to be on how do we deal with the sequester issue, and i just want to make this quick point. i had a press conference this week in which i reiterated i am prepared, eager, and anxious to do a big deal, a big package that ends this governance by crisis for every two weeks or every two months or every six months. we are threatening this hard won recovery where finally housing is starting to pick up and commercial real estate is starting to do better and the unemployment numbers are still too high, but we're seeing some job growth and businesses are investi
it means that we're going to talk about, yes, deficits and taxes and sequesters and potential government shutdowns and debt ceilings. we'll talk about that stuff. all from the perspective of how are we making sure that somebody who works hard in this country, a cop or a teacher, or a construction worker or a receptionist, that they can make it if they work hard. and that their kids can make it. and dream even bigger dreams than they have achieved. and obviously, a lot of what we'll be working...
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Feb 5, 2013
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he began to give tax breaks. the original tax breaks of george bush, along came 9/11, then you were into war in afghanistan. and these are all things that we did while in iraq, and then all these things we did. we need to pay taxes and do it fairly. it is not fair right now when the top .10 of one percent is accumulating money at a rate that is unbelievable for those of us in the lower half of the economic ladder. the number one cause of bankruptcies in this country is healthcare bills. the average american is scared to death that they will get sick in iraq and they will not be covered. we have inequities that we could fix with the tax structure. it is a matter of political will and >> edward, caller. -- host: edward. caller: thank you for taking my call. representative, i have been around for a while, and george palestra -- george bush did not inherit a surplus. it was on paper. as far as him going along with spending programs, i do think he was trying to appease the democrats. i thought it was wrong then. when
he began to give tax breaks. the original tax breaks of george bush, along came 9/11, then you were into war in afghanistan. and these are all things that we did while in iraq, and then all these things we did. we need to pay taxes and do it fairly. it is not fair right now when the top .10 of one percent is accumulating money at a rate that is unbelievable for those of us in the lower half of the economic ladder. the number one cause of bankruptcies in this country is healthcare bills. the...
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every day the president threatens to raise a tax or another. as long as the threat of new taxes, huge regulations from the epa hang over the private sector, we're not going to get the growth we need. >> you know one of the biggest drags on fourth quarter gdp that report showed was the reining in of defense spending as we got out of afghanistan and retracted some troops. that is what was a huge contributor to that decline in growth in the fourth quarter. now are we doing this all over again with the sequestration here? >> sequestration is already effecting government expenditures as agencies try to guess what position they'll be in. of course they're being conservative. the deficit problem is the problem for later in this decade. the jobs problem is the problem today. and this talk of a contracti contractionary fiscal position. it is hurting the economy. >> he wantive harris? >> in the end, we've got to get our deficit under control while we grow the private sector economy. we can't do it through new taxation. you can't tax your way out of this
every day the president threatens to raise a tax or another. as long as the threat of new taxes, huge regulations from the epa hang over the private sector, we're not going to get the growth we need. >> you know one of the biggest drags on fourth quarter gdp that report showed was the reining in of defense spending as we got out of afghanistan and retracted some troops. that is what was a huge contributor to that decline in growth in the fourth quarter. now are we doing this all over...
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would you be for taxes? no. then ronald reagan would never have been someone you would have voted for. there's this purity test that republicans have now for some reason. he came to the table and got things accomplished. not everything he wanted. he didn't have to give up some of his conservative believes and values. >> i think that on the republican side, we heard people say they don't want to think about compromise. i remember boehner did an interview where he was afraid to use the word compromise. so hogan probably needs to advise some colleagues on the republican party. they don't think of themselves as liberal. it's easy to kovrp miez. most republican voters think of themselves as conservatives. most of them can't reach a deal. john boehner don't view the compromise as a dirty word on some lefrl. and that's the big challenge that hogan talked about. >> thank you both fwr your time tonight. and we'll keep watching the republicans doing what they're doing. you want change? wait until you see who's now support
would you be for taxes? no. then ronald reagan would never have been someone you would have voted for. there's this purity test that republicans have now for some reason. he came to the table and got things accomplished. not everything he wanted. he didn't have to give up some of his conservative believes and values. >> i think that on the republican side, we heard people say they don't want to think about compromise. i remember boehner did an interview where he was afraid to use the word...
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income tax. as a retiree living on a modest pension pay federal and state tax. i think this is all a ploy on the republicans to do away with social programs that it could not get done legislatively. what they do is they start starving the beast of all of its money so they can get programs cut. they have been trying to get to social security since its inception. it is a shame that people put toy is a dollar overseas and untaxed. you have all this -- people put trillions of dollars overseas and untaxed. this is part of the extreme white ring -- extreme right wing agenda. host: you say your daughter could lose 20% of purse salary. what does she do? caller: she works for the navy. she is losing one day of play every week when this takes effect. that is 20% of first colony. how do they expect people to take -- that is 20% of her salary. the kochbrothers -- koch tothers' income increased $20 billion under bush. guest: these people will be furloughed for a period of time and will not get paid. this is s
income tax. as a retiree living on a modest pension pay federal and state tax. i think this is all a ploy on the republicans to do away with social programs that it could not get done legislatively. what they do is they start starving the beast of all of its money so they can get programs cut. they have been trying to get to social security since its inception. it is a shame that people put toy is a dollar overseas and untaxed. you have all this -- people put trillions of dollars overseas and...
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the speaker offered increased revenue from taxes. with less than two weeks to go, they thought they had a deal. it became known as the grand bargain. >> it's not every day that the speaker comes to see the president quietly and says, "i'm willing to do a deal" that everybody knows is going to be dangerous for him politically. >> narrator: back at the capitol, boehner would have to convince the new republicans to go along. >> john boehner discovers that dl making is t part of the program for a lot of these freshmen who have just come into office on the strength of conviction politics. >> these freshmen understood what washington was about and chose not to be of washington. and so they wouldn't cave like a typical politician did because they weren't typical politicians. they got elected on principle, not on politics. >> narrator: as the week wore on, obama began to worry about the grand bargain. >> he calls boehner that night and leaves a voicemail. boehner doesn't ck up. >> the president said, "get back to me tonight, john." the presi
the speaker offered increased revenue from taxes. with less than two weeks to go, they thought they had a deal. it became known as the grand bargain. >> it's not every day that the speaker comes to see the president quietly and says, "i'm willing to do a deal" that everybody knows is going to be dangerous for him politically. >> narrator: back at the capitol, boehner would have to convince the new republicans to go along. >> john boehner discovers that dl making is t...
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if you are consistent on it, you shouldn't want any tax hikes either, right? the fight is over people's policies. people have policies that have priorities because the intl groups and collisions thief assembled politically because of their idealogical principles, right, who these things will benefit, it and then they mask them in the language of what is cyclically appropriate or inappropriate, right? >> even on sequestration they've changed their mind. now sequestration, we might do it. >> i love when they bring this up during the hagel hearing and they talk about sequestration, and they go the witness and talking about what a disaster sequestration would be for the defense budget. if you just arrived from another country or mars you would be like who are the monsters who came up with the sequestration idea? who could have possibly voted for this thing? it is the people sitting that crafted it. >> the ironies speak like a birthday cake. unfortunately, we have to leave it there. we are out of time. >> can we kick the can? >> we are going to kick the can down th
if you are consistent on it, you shouldn't want any tax hikes either, right? the fight is over people's policies. people have policies that have priorities because the intl groups and collisions thief assembled politically because of their idealogical principles, right, who these things will benefit, it and then they mask them in the language of what is cyclically appropriate or inappropriate, right? >> even on sequestration they've changed their mind. now sequestration, we might do it....
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state and local taxes, charity. okay. the president doesn't want to name those. republicans don't want to name those. but that's what we're talking about, a tax increase on a whole lot of people. >> well, if you really wound up closing those deductions, we would have a massive impact on a lot of lives and i don't think it's going to happen. i think that what you're going to wind up seeing is there are a lot of tax deductions that don't bring in quite as much money but which really distort economic behavior. good one people point to is the carried interest which allows hedge fund people to not pay the same taxes everybody else does. that's not going to bring as much money in but there may just be to be ultimately higher rates if we're serious about dealing with long term fiscal health. >> we do need to deal with long term fiscal health and we do need real tax reform but we ought to be guided by president obama's own simpson-bowles commission which said that we need to combine this kind of tax reform, closing loophole
state and local taxes, charity. okay. the president doesn't want to name those. republicans don't want to name those. but that's what we're talking about, a tax increase on a whole lot of people. >> well, if you really wound up closing those deductions, we would have a massive impact on a lot of lives and i don't think it's going to happen. i think that what you're going to wind up seeing is there are a lot of tax deductions that don't bring in quite as much money but which really distort...
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but coming up with a limited package of spending cuts and tax reforms. nearly $1 trillion of domestic and defense spending hanging in the balance, the president said the impact is already being felt. >> we've also seen the effects of political dysfunction can have on our economic progress. the drawn out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already strt r staart affect business decisions. so while it's critical to cut wasteful spending, we can't just cut our way to prosperity. there is no reason that the jobs of thousands of americans who work in national security or education or clean energy, not to mention the growth of the entire economy should be put in jeopardy just because folks in washington couldn't come together or eliminate a few special interest tax loopholes or government programs that we agree need some reform. >> house speaker john boehner responded with a statement reading "republicans have twice voted replace these arbitrary cuts with common-sense cuts and reforms that p
but coming up with a limited package of spending cuts and tax reforms. nearly $1 trillion of domestic and defense spending hanging in the balance, the president said the impact is already being felt. >> we've also seen the effects of political dysfunction can have on our economic progress. the drawn out process for resolving the fiscal cliff hurt consumer confidence. the threat of massive automatic cuts have already strt r staart affect business decisions. so while it's critical to cut...
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more taxes to avoid sequester cuts. we'll get reaction from the fox all-stars when we return. n't drr operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may occur. alcohol may increase these risks. allergic reactions such as tongue or throat swelling occur rarely and may be fatal. side effects may include unpleasant taste, headache, dizziness, and morning drowsiness. ask your doctor if lunesta is right for you. then find out how to get lunesta for as low as fifteen dollars at lunesta.com. there's a land of restful sleep. we can help you go there on the wings of lunesta. they're about 10 times softer and may have surface pores where bacteria can multiply. polident kills 99.99% of odor caus
more taxes to avoid sequester cuts. we'll get reaction from the fox all-stars when we return. n't drr operate machinery until you feel fully awake. walking, eating, driving, or engaging in other activities while asleep, without remembering it the next day, have been reported. lunesta should not be taken together with alcohol. abnormal behaviors may include aggressiveness, agitation, hallucinations, or confusion. in depressed patients, worsening of depression, including risk of suicide, may...
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state and local taxes, charity. okay. the president doesn't want to name those. republicans don't want to name those. but that's what we're talking about, a tax increase on a whole lot of people. >> well, if you really wound up closing those deductions, we would have a massive impact on a lot of lives and i don't think it's going to happen. be to be ultimately higher rates if we're serious about dealing with long term fiscal health. >> we do need to deal with long term fiscal health and we do need real tax reform but we ought to be guided by president obama's own simpson/bowles commission which said that we need to combine this kind of tax reform, closing loopholes, with lowering rates, particularly lowering rates on corporate taxation so we're more competitive with the rest of the world. if we are going to expend, use up these loopholes to pay for new spending or to avoid the kind of budget cutting that we need to do or the kind of entitlement reform, i mean, some of the entitlement reform that has been proposed, a
state and local taxes, charity. okay. the president doesn't want to name those. republicans don't want to name those. but that's what we're talking about, a tax increase on a whole lot of people. >> well, if you really wound up closing those deductions, we would have a massive impact on a lot of lives and i don't think it's going to happen. be to be ultimately higher rates if we're serious about dealing with long term fiscal health. >> we do need to deal with long term fiscal health...
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i opposed higher taxes. >> should boehner be replaced? >> well, i don't -- a fight of that sort now would be destructive. i believe boehner and the republicans need to reclaim their fundamental legacy. if there was ever a time that we can understand that big spending and borrowing, and ratifying it by higher taxes is going to destroy the american economy just like it's destroyed the economies of japan and europe. and we have to rally behind that, and what is stopping that is that latinos and women feel they can't join the republican party even though they agree with it, because it's excluding. >> who would you most like to see leading the party for the next election? it can be a surname, a first name. >> scott walker. >> scott walker? interesting call. good to see you. you can always come back here, we're not going to ban you or fire you. >>> coming up, we'll talk about what dick morris just said, about the future of the republican party. kerry kennedy joins me live to talk about guns in america. oh! progress-oh! [ female announcer ] with
i opposed higher taxes. >> should boehner be replaced? >> well, i don't -- a fight of that sort now would be destructive. i believe boehner and the republicans need to reclaim their fundamental legacy. if there was ever a time that we can understand that big spending and borrowing, and ratifying it by higher taxes is going to destroy the american economy just like it's destroyed the economies of japan and europe. and we have to rally behind that, and what is stopping that is that...
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two model income tax -- model tax and income tax and consumption tax. the author of that study was the deputy assistant secretary was basically pushing the consumption tax idea, and this book blueprints for basic tax reform was a very influential book, and a proposal. by the way to make casey think all the economists favor that to make a big influence on that was a harvard professor wedding -- also an advocate of the consumption tax. this resurfaced later in a proposal by senators nunn and beachy in the 1990's the usa tax , a second idea that was very popular with the so-called flat tax that was a book by professors hall at stanford originally published in 1982, a was not an original idea with them. it came from milton friedman book capitalism and freedom where he has a chapter of the ideal income-tax. the ideal income tax he describes is actually the flat tax which is actually consumption tax. the city was picked up by house majority leader dick armey and by presidential candidate steve forbes in the 1990's, again, like all these other plans to make di
two model income tax -- model tax and income tax and consumption tax. the author of that study was the deputy assistant secretary was basically pushing the consumption tax idea, and this book blueprints for basic tax reform was a very influential book, and a proposal. by the way to make casey think all the economists favor that to make a big influence on that was a harvard professor wedding -- also an advocate of the consumption tax. this resurfaced later in a proposal by senators nunn and...
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tax reform. well, when you have a budget chairman preparing a budget that's going to balance in ten years, it's going to be really hard to keep things like the child tax credit. so we're going to see how this pans out, because you can't talk about a budget plabalancing in years without cutting some tax cuts that are really important to the middle class. we'll see how this pans out in terms of policy, rather than what we're going to hear today. >> so eric cantor was on "morning joe" today, talking exactly about that. the financial aspect of what it means to be helpful to america. and you bring up the middle class. take a listen. >> i think where we have a lot of room to grow as a party, as conservatives, so to plain again why we're for the kind of fiscal discipline that we're for. what is the reality and how are we going to help people? >> maria teresa, do they have a lot of room to grow there in coming forward as being known as the party of how to help people? >> you know, i caution the republica
tax reform. well, when you have a budget chairman preparing a budget that's going to balance in ten years, it's going to be really hard to keep things like the child tax credit. so we're going to see how this pans out, because you can't talk about a budget plabalancing in years without cutting some tax cuts that are really important to the middle class. we'll see how this pans out in terms of policy, rather than what we're going to hear today. >> so eric cantor was on "morning...
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. >> i believe they should at least pass a smaller package of spending cuts and tax reforms. >> i think the sequester's going to happen. >> washington desperately needs some adult leadership. >> talking like adults. let's get this country back on the mother [ bleep ] track. oh yeah! >> the president and the first lady are kind of like the mom and the dad of the country. >> there isn't any resistance to obama anywhere. >> at some point washington has to deal with its spending problem. >> and when your dad says something, you listen. and when you don't, it usually bites you in the [ bleep ] later on. >> i've had enough of it. it's time to act. ♪ >>> the clock is now ticking on what many economists say is a near-certain double dip recession if more than a trillion dollars in automatic spending and defense cuts are allowed to occur at the beginning of next month. and while the president is busy running the government, today nominating a new candidate for the interior department. and yesterday pleading for action to prevent the so-called sequester, republicans have been out front telling a
. >> i believe they should at least pass a smaller package of spending cuts and tax reforms. >> i think the sequester's going to happen. >> washington desperately needs some adult leadership. >> talking like adults. let's get this country back on the mother [ bleep ] track. oh yeah! >> the president and the first lady are kind of like the mom and the dad of the country. >> there isn't any resistance to obama anywhere. >> at some point washington has to...
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if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't have a general market impact, but the federal government, the justice department, a couple of left wing attorneys general, they will all sue s&p. they're probably going to sue moody's. mcgraw hill fell. they will sue s&p for being credit dummies on mortgage-backed securities and collateralized debt obligations. i don't know. is this meritorious? it seems there is no law about being stupid. they were stupid. but if you can't show intent there is no law about stupid. why do this? >> you have e-mails from s&p officials saying we sold our souls to the issuers of
if you oh mention those words it will be tax, tax, tax. i will control the public dialogue and that's all we'll e talk about. guys, fold your cards now. that's what this is about. i don't think there will be more tax hikes this year. there's also not going to be spending reform. all the talk about tax hikes is obama's way of making sure that america doesn't deal with its true problem which is its spending problem. >> i will cross that bridge when i get to it. dave goldman, this didn't...
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low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. connell: all right. so an interesting day in the market. stocks are down, as we've been talked about. it's been tough going in the bond market, we've also talked about investors concerned maybe they missed the run in equity, so we have an argument right now to be made for small cap stocks. dagen: chairman and ceo of asset management. good to see you. small caps are up more than your other market gauges. the russell 2000 chosed at a record on friday. why would you bet on an already-hot group of stocks? >> i guess we should quit then, huh? [laughter] i mean, the game's over. dagen: there are always options. >> no, there's many options. here's the thing. i don't believe in buying markets.
low cost and tax efficient. find out why nine out of ten large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. connell: all right. so an interesting day in the market. stocks are down, as we've been talked about. it's been tough going in the bond market, we've also talked...
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our tax is 12 to 5% corporate tax. it is across the entire spectrum. the tax regime in europe in general helps us to make decisions about tax rates per it is clear and transparent. it is generally used by country. our international competence is not changing. >> precisely -- precisely because the world is changing, we need to he does. which tasks should be dealt with. i think there should be a debate or example, i would like to talk with my colleagues on the area of occupational health and safety. there is so much that has been dealt with. very much in terms of rules and legislations. it is like hotel california, you can check out, but you can never leave. it is very much at this level. i do not agree when someone asks for specific favors for one country. it should he level at the end of the day. both on the european level and the a national level. i agree with david's comments yesterday in terms of making the union more efficient. you should also look at competitiveness. getting the engine going. between the united states and europe, i think it is vit
our tax is 12 to 5% corporate tax. it is across the entire spectrum. the tax regime in europe in general helps us to make decisions about tax rates per it is clear and transparent. it is generally used by country. our international competence is not changing. >> precisely -- precisely because the world is changing, we need to he does. which tasks should be dealt with. i think there should be a debate or example, i would like to talk with my colleagues on the area of occupational health...
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Feb 8, 2013
02/13
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close loop tax loopholes, fine, if we can do it. but the sequester is not serving any loophole purpose. >> with these cuts written into law, what happens -- if we do nothing, then we are going to have these spending cuts. >> so it's not a good thing. now, there is -- it's kind of important to make the distinction. the debt ceiling was scary as hell. we didn't know what would happen. if the united states stopped honoring its debts even for a day, who knew what would happen to the world financial system. this time if it goes moont, it's not the end of the world but it's big. this is a substantial spending cut in a depressed economy. this is exactly the wrong time to have fiscal austerity of any kind and the defense spending cuts are job destroyers, just like anything else. so not -- this is not what we want to see happen. if it all goes through, it's a pretty significant -- it's enough to push us is certainly into rising unemployment, possibly even back into recession. >> i want to listen to something that john boehner said about how
close loop tax loopholes, fine, if we can do it. but the sequester is not serving any loophole purpose. >> with these cuts written into law, what happens -- if we do nothing, then we are going to have these spending cuts. >> so it's not a good thing. now, there is -- it's kind of important to make the distinction. the debt ceiling was scary as hell. we didn't know what would happen. if the united states stopped honoring its debts even for a day, who knew what would happen to the...
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Feb 7, 2013
02/13
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taxes. if the sequester is allowed to take place and a continuing resolution is not fixed, the department of defense stands to lose billions of dollars. the vice chairman of the joint chiefs said, "there could be for the first time in his career instances where he may be asked to respond to the crisis, and we may not be able to do it." where i am really pleased to the committee that we have and the minority in the senate, we have a lot of talent there. we will use all of that talent, we have people who are heading up are six committees, senators sessions, mccain, gramm, a -- ayotte and others on the committee. it has been my strategy in the past use this town to make sure they are the ones who will be driving it. senator ayotte. it will not be a one-man show. senator ayotte is the one who has been driving this so far. with this, the bill, which will explain what we will be doing with that. kelly? >> thank you, senator inhofe. i want to for thank senator mckeon and my colleagues senators mcca
taxes. if the sequester is allowed to take place and a continuing resolution is not fixed, the department of defense stands to lose billions of dollars. the vice chairman of the joint chiefs said, "there could be for the first time in his career instances where he may be asked to respond to the crisis, and we may not be able to do it." where i am really pleased to the committee that we have and the minority in the senate, we have a lot of talent there. we will use all of that talent,...
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Feb 5, 2013
02/13
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supports assaults weapons ban, but he supports stimulus and dodd frank and science and votes against tax increases and all the rest of it, if you are a major political party, dick luger is a first round draft pick for you. he is the kind of guy you want in the senate seat. you want him in the senate seat because he does a very important thing, he does not lose senate elections. but in 2012, something really unexpected happened. and dick luger lost the seat. but he didn't lose it to a democrat. he lost in a primary to this guy. >> i think even when life begins in that horrible situation of rape, that it is something that got intended to happen. >> that is richard mourdock, the tea party anti-establishment candidate. he had endorsements from americans for prosperity, the national right to life association, he is the republican who knocked dick luger out in the primary, and also lost the 2012 senate race in indiana. he is part of why despite the democrats defending the seat, increased their majority by two seats. over the past couple of things this kind of thing happened to republicans an a
supports assaults weapons ban, but he supports stimulus and dodd frank and science and votes against tax increases and all the rest of it, if you are a major political party, dick luger is a first round draft pick for you. he is the kind of guy you want in the senate seat. you want him in the senate seat because he does a very important thing, he does not lose senate elections. but in 2012, something really unexpected happened. and dick luger lost the seat. but he didn't lose it to a democrat....
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Feb 5, 2013
02/13
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plug loopholes, lower everybody's tax rates. get rid of special interest loopholes. plug these loopholes. >> so for mr. ryan, plugging loopholes is great when mitt romney proposes it as an idea but as soon as the president does, it's off the table. >> first of all, who is mitt romney. >> sorry? >> oh, right, that guy. i remember him. you're exactly right. you were getting to it in your intro, the sequester was the ransom that republicans in the house demanded of the white house in order to raise the debt ceiling in 2011. >> but they now say it was the president who is responsible. >> exactly. they voted for this. >> and paul ryan runs a marathon in less than one hour. >> i thought it was like 20 minutes. he's superman. this is what they wanted. >> of course. congressman, here is another apparent contradiction you might like to clear up for us. on the one hand, you have eric cantor out there giving a speech on making life work. he sounds like tony robbins or something. he's trying to sell yet another iteration of the republican party, but when you strip away the soft
plug loopholes, lower everybody's tax rates. get rid of special interest loopholes. plug these loopholes. >> so for mr. ryan, plugging loopholes is great when mitt romney proposes it as an idea but as soon as the president does, it's off the table. >> first of all, who is mitt romney. >> sorry? >> oh, right, that guy. i remember him. you're exactly right. you were getting to it in your intro, the sequester was the ransom that republicans in the house demanded of the...
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Feb 6, 2013
02/13
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rate should be whatever it is in the tax rate in the campaign. he is getting attacked by the tea party side. he is trying to attack the so-called reasonable republicans against the nuts, rove was just attacking hannity, listen to this. >> the group that went out with the e-mails and fundraising entities, they get into the pocket of the person who owns the website or the political action committee. i am a volunteer, i don't take a dime from crossroads. >> richard, this is the fascinating current civil war in republican world, rove versus the tea party. >> i think he has done pretty well being a political consultant. i am going to be skeptical, even if he was sitting in what looked like the lobby of the holiday inn, this is a fascinating debate. this is what a party looks like when it has gone to an extreme, people recognize it does not work and they're trying to attack back. for the president, the white house and democrats, in general, that offers up a whole range of opportunities that didn't exist before. when the policy was no defectors, no spli
rate should be whatever it is in the tax rate in the campaign. he is getting attacked by the tea party side. he is trying to attack the so-called reasonable republicans against the nuts, rove was just attacking hannity, listen to this. >> the group that went out with the e-mails and fundraising entities, they get into the pocket of the person who owns the website or the political action committee. i am a volunteer, i don't take a dime from crossroads. >> richard, this is the...
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Feb 5, 2013
02/13
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then tax it. today, democrat lawmakers rolling out new legislation to regulate and tax marijuana in states where it is legal. congressman early bloomen is behind that push. welcome to the program. >> thank you. >> is a understand the proposal it would basically add a federal tax of roughly $50 per ounce and you believe that would bring in a total of $20 billion extra revenue per year. that sounds like -- must be an awfully big pot market in america. is it that big? >> well, estimates vary but the fact i that it is billions of dollars we spend to arrest two-thirds of a million people a year for something that half americans think should be legal, and two-thirds say let the states regulate it. stop the cost, it i can woo like lick tax alcohol, but money to reduce the deficit and we'd start having a more rational policy regarding marijuana. >> that would not bring the money in -- >> we don't know there are some estimates that suggest that the voters in colorado and the state of washington, by moving
then tax it. today, democrat lawmakers rolling out new legislation to regulate and tax marijuana in states where it is legal. congressman early bloomen is behind that push. welcome to the program. >> thank you. >> is a understand the proposal it would basically add a federal tax of roughly $50 per ounce and you believe that would bring in a total of $20 billion extra revenue per year. that sounds like -- must be an awfully big pot market in america. is it that big? >> well,...